Musaraj publishes article "Housing as asset and payment: Construction, speculation, and financialization at the European periphery" in the American Anthropologist, the flagship journal of the American Anthropological Association. The article introduces us to the intriguing practice of “klering,” where housing itself became a means of payment. Developers and subcontractors engaged in klering, offering apartments in exchange for construction services. This practice had far-reaching implications, both positive and negative. On one hand, it facilitated the construction industry’s growth, allowing players to avoid some of the risks associated with formal financial institutions. On the other hand, it created new risks, including the use of lower-quality construction materials and money laundering.
Crucially, the research illustrates how housing in Albania became a store of wealth and a means of payment. It gained prominence as an asset with more durable value than the local currency, echoing global trends where housing has shifted from a matter of welfare to a private asset linked to international finance and an increasingly speculative economic landscape.
More information on the article can be found here.